Stay updated with breaking news from First Boston. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
U.S. President Joe Biden's administration moved to backstop consumer deposits while the Swiss central bank lent billions to Credit Suisse to stabilise its shaky balance sheet. UBS was under pressure from the Swiss authorities to take over its local rival to get the crisis under control, two people with knowledge of the matter said.
ZURICH, March 19 — UBS Group AG is in emergency talks to buy fellow Swiss banking giant Credit Suisse as authorities bid to stave off turmoil when markets reopen tomorrow,...
Switzerland is preparing to use emergency measures to fast-track the takeover of Credit Suisse by UBS.
Bondholder losses considered as authorities race to rescue the 167-year-old bank.
Final toll could be much higher if a deal is done.